Know the EMI amount for your Union Bank of India personal loan by using their EMI calculator. Provide your loan amount, interest rate and tenure and you will get your EMI amount.
|Year||Month||Principal (A)||Interest (B)||EMI (A+B)||Balance||Loan Paid to Date (%)|
The Union Bank of India offers personal loans of various types at affordable interest rates. When getting a personal loan, you can plan your finances better by using the Union Bank of India EMI calculator. Understanding your EMI is crucial to manage your monthly expenses and to make informed decisions.
An equated monthly instalment is a sum of money that you make to your lender as part of your repayment schedule. It comprises two major components: the loan amount and interest rate. Get your estimated EMI in seconds with the UBI personal loan EMI calculator.
Another method of calculating your EMI amount is by manually calculating using the formula
EMI = P × R × (1 + r)^N /( (1 + R)^N - 1)
Here, P stands for the principal amount, R stands for the interest rate and N stands for the tenure.
Provided below is an example to show you how you can calculate your EMI on your own.
Let's take P to be 5,00,000, N = 60 months and R = 10% = 10/12/100 = .
Then, according to the formula:
EMI = 5,00,000 x 0.833(1+0.833)^60 / (1+0.833)^60-1
Therefore, the estimated EMI amount is ₹10,624. Please remember that this amount is merely an example. For an accurate amount, please check with the lender.
Union Bank of India offers personal loans under various schemes & categories to its borrowers along with different interest rates. These are:
|Scheme||Interest Rate (p.a.)|
|Union Personal - Under Tie-up||13.40% - 13.50%|
|Union Personal - Non Tie-up||14.49% - 14.50%|
|Union Personal Loan for Non Salaried||11.80% - 12.05%|
|Union Professional Personal - Salaried Under Non Tie-up||12.30% - 12.55%|
|Union Professional Personal - Non Salaried||12.80% - 13.05%|
|Union Ashiyana Personal – Salaried||11.80% - 12.05%|
|Union Ashiyana Personal – Non-Salaried||12.30% - 12.55%|
|Union Women Professional Personal Loan Scheme||12.30% - 12.55%|
Assuming the Loan Amount to be ₹2,00,000, Tenure as 12 months, and taking the maximum Interest Rate of each scheme, we can determine the EMI of each scheme using the EMI calculator for personal loan in Union Bank of India:
|Union Personal - Under Tie-up||13.50%||₹17,910.41|
|Union Personal - Non Tie-up||14.50%||₹18,004.51|
|Union Personal Loan for Non Salaried||15.50%||₹18,098.88|
|Union Professional Personal - Salaried Under Tie-up||12.05%||₹17,774.44|
|Union Professional Personal - Salaried Under Non Tie-up||12.55%||₹17,821.26|
|Union Professional Personal - Non Salaried||13.05%||₹17,868.15|
|Union Ashiyana Personal – Salaried||12.05%||₹17,774.44|
|Union Ashiyana Personal – Non-Salaried||12.55%||₹17,821.26|
|Union Women Professional Personal Loan Scheme||12.55%||₹17,821.26|
To better manage your finances, you can utilise the UBI personal loan EMI calculator to estimate your equated monthly instalments. The calculator is an easy-to-use tool, all you need to do is follow these simple steps:
The Buddy Loan EMI calculator is a useful tool for calculating your EMI. The tool helps you make informed decisions about your loan amount and tenure.. The EMI calculator also has exciting features that will help you better understand your loan journey. Apart from your estimated monthly instalment, it also summarises:
Let’s take a look at the advantages of using the Buddy Loan EMI calculator:
Savings strategy: the Buddy Loan EMI calculator helps you strategize and plan how you can save money when applying for a personal loan, as you can tailor your loan according to your affordability.
Time efficient: the calculator will provide you with an instant estimate of your EMI amount, which will save you time and effort from manually calculating the EMI.
Reliability: the calculator is a reliable tool you can use to compare various loan scenarios while providing accurate results which can help you make better decisions on your loan terms.
Clear repayment terms: the calculator provides a transparent breakdown of your EMI throughout your repayment term.
The Union Bank personal loan EMI can be determined by various factors, with each playing a crucial role in shaping your repayment plan. Understanding these factors can help you comprehend your EMI amount and make thoughtful financial decisions. These factors are:
Loan Amount: your loan amount contributes largely to your EMI amount. The higher the loan amount the more EMI you will pay.
Interest Rate: the interest rate you receive will also determine the EMI amount, a higher rate will mean higher EMIs.
Debt-to-income ratio: having a good debt-to-income ratio will indicate your credibility to a lender. It can help you get a good interest rate leading to a lower EMI.
Credit score: having a good credit score will help you get low interest rates and eventually a low EMI.
Making the best use of your Union Bank loan EMI calculator can help you plan for your personal loan. Here are some tips on how you can do that:
Customising your loan: You can use the EMI calculator to customise your loan to fit your requirements. You can get an affordable EMI amount by adjusting the loan amount or tenure.
Comparing loan options: Using the ubi personal loan emi calculator will help you get the right loan terms for you.
Assess your financial capability: You can consider your monthly income and obligations and get a budget-friendly EMI through the calculator.
Repayment planning: Knowing your EMI can help you plan your repayments so you do not default on your repayment.
Prepayment planning: Understanding your EMI amount can help you budget and allocate your finances to plan for a prepayment. Prepayments will help you lower your EMIs in the long run.
Check other Banks EMI Calculator from below:
|HDFC Personal Loan EMI Calculator||ICICI Bank Personal Loan EMI Calculator|
|Kotak Personal Loan EMI Calculator||Axis Bank Personal Loan EMI Calculator|
|BOB Personal Loan EMI Calculator||PNB Personal Loan EMI Calculator|
|Canara Bank Personal Loan EMI Calculator||SBI Personal Loan EMI Calculator|
|Yes Bank Personal Loan EMI Calculator||Bank of India Personal Loan EMI Calculator|
|IndusInd Bank Personal Loan EMI Calculator||IDFC Bank Personal Loan EMI Calculator|
|Standard Chartered Loan EMI Calculator||IOB Personal Loan EMI Calculator|
|UCO Bank Personal Loan EMI Calculator||CitiBank Personal Loan EMI Calculator|
|Central Bank Personal Loan EMI Calculator||Federal Bank Personal Loan EMI Calculator|
|Bandhan Bank Personal Loan EMI Calculator||RBL Bank Personal Loan EMI Calculator|
|Indian Bank Personal Loan EMI Calculator||-|
Ready to take next step ?
LoanTap EMI calculator is an online tool to calculate the estimated monthly EMI for a loan based on the loan amount, interest rate, and loan term.
To access the LoanTap EMI calculator, you can follow the steps mentioned above.
To use the LoanTap EMI calculator effectively, you need to input the following information; Loan amount, Interest rate and Loan term. To know how to use it, follow the steps above.
Yes, the LoanTap EMI calculator is accurate for calculating EMIs.
Yes, the LoanTap EMI calculator can be used to calculate the EMI for different types of loans and financial products offered by LoanTap.
The LoanTap EMI Calculator uses the following formula to calculate EMIs- EMI = P x R x [(1+R)^N] / [(1+R)^N - 1]
You can use the LoanTap EMI calculator as frequently as you want. It is a free online tool that is available 24/7 with no restrictions on the number of usages.
Yes, you can estimate the impact of prepayments on your loan using most EMI calculators.
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